Troubled hedge fund sitting on real estate gold

CNBC – Hedge fund manager Steve Cohen has at least one easy way to make up some of the $1.2 billion he recently agreed to pay the government: Cash in on SAC Capital Advisors’ sprawling real estate holdings that stretch across three continents.

Much has been made of billionaire Cohen’s personal properties. His homes, all in the New York City area, include a $23.1 million, 35,000 square foot mansion in Greenwich, Conn.; a $115 million midtown duplex already for sale; two West Village residences valued at $23.4 million and $38.8 million, respectively; and adjacent homes in East Hampton, N.Y. worth an estimated $62.5 million and $18 million respectively based on purchase prices, according to a recent Forbes report.